Wall Street brokerages forecast that Northern Trust Co. (NASDAQ:NTRS) will report $1.52 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Northern Trust’s earnings. The highest sales estimate is $1.53 billion and the lowest is $1.50 billion. Northern Trust reported sales of $1.59 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.4%. The firm is scheduled to issue its next earnings report on Tuesday, April 20th.
On average, analysts expect that Northern Trust will report full year sales of $6.19 billion for the current fiscal year, with estimates ranging from $6.11 billion to $6.29 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.39 billion, with estimates ranging from $6.20 billion to $6.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Northern Trust.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, January 20th. The asset manager reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. During the same quarter last year, the company earned $1.80 EPS.
Several brokerages have recently commented on NTRS. Bank of America cut shares of Northern Trust from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $95.00 to $97.00 in a research report on Tuesday, January 12th. Keefe, Bruyette & Woods raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $100.00 to $120.00 in a research report on Friday, January 22nd. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $90.00 to $85.00 in a research report on Tuesday, January 5th. Morgan Stanley reduced their price target on shares of Northern Trust from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, January 22nd. Finally, Credit Suisse Group cut shares of Northern Trust from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $88.00 to $94.00 in a research report on Friday, December 11th. Six analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Northern Trust has a consensus rating of “Hold” and a consensus price target of $96.47.
In related news, insider Steven L. Fradkin sold 8,473 shares of the firm’s stock in a transaction that occurred on Thursday, January 28th. The shares were sold at an average price of $91.50, for a total transaction of $775,279.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lauren E. Allnutt sold 1,286 shares of the firm’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $95.37, for a total transaction of $122,645.82. The disclosure for this sale can be found here. Insiders have sold 19,759 shares of company stock valued at $1,840,325 over the last 90 days. 0.72% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in shares of Northern Trust by 19.1% in the third quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the asset manager’s stock valued at $826,000 after purchasing an additional 1,700 shares in the last quarter. First Midwest Bank Trust Division raised its position in Northern Trust by 3.9% during the third quarter. First Midwest Bank Trust Division now owns 3,551 shares of the asset manager’s stock valued at $277,000 after buying an additional 132 shares during the period. PGGM Investments acquired a new position in Northern Trust during the third quarter valued at $2,987,000. Alpha Windward LLC raised its position in Northern Trust by 10.4% during the third quarter. Alpha Windward LLC now owns 2,118 shares of the asset manager’s stock valued at $165,000 after buying an additional 199 shares during the period. Finally, Pratt Collard Advisory Partners LLC raised its position in Northern Trust by 4.4% during the third quarter. Pratt Collard Advisory Partners LLC now owns 15,945 shares of the asset manager’s stock valued at $1,243,000 after buying an additional 665 shares during the period. 78.82% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:NTRS traded down $0.05 on Thursday, reaching $97.58. The stock had a trading volume of 21,036 shares, compared to its average volume of 931,271. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $95.66 and a 200 day moving average of $88.29. The stock has a market cap of $20.31 billion, a P/E ratio of 16.19 and a beta of 1.12. Northern Trust has a 12-month low of $60.67 and a 12-month high of $99.98.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Friday, March 12th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.87%. Northern Trust’s dividend payout ratio is presently 42.23%.
About Northern Trust
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.
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